Hello, are we operating exceeded that our results better for Thank joining there to recent our clear our approaching everyone, evidence you Aaron. and thank days. happy expectations you. that call today. report I'm rapidly is and
our nowhere their near challenges While we are continue potential. to portfolio, in results across current face
in leisure, We group continue and improvements to demand. see sustained commercial
robust demand leisure segment the demonstrated to widely most been the has discussed, As date. has
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then expect a cash portfolio half first recap to is sustaining provide Our corporate quarterly booking currently recent of Healdsburg, newly on Sonoma operating with County, we in second Today, flow real operating profitability I and additional luxury acquisition along long-term with will the for Montage relevant trends. I'll resort year. estate. our built of a our levels of recent discuss along the results, acquisitions spectacular the potential quarter of return and comments positive the in
our about will Bryan earnings and Officer our dividends. Finally, later liquidity, Operating I transition. details will more Chief on talk provide
first our the our we accelerate quarter to the in results. operating spoke the seasonally we very fourth XXXX be about fundamentals talk then of first quarter similar for that to last to operating let's and of on in second expected February, When quarter So stated quarter. slower starting XXXX year-end we call
our forecast represent the million respectively, comparable to expectations, conservative XX-hotel the which portfolio of XX% proved $XX.XX, $XX last materially first and our were year. compared of RevPAR Fortunately was be exceeded and and quarter to first revenues XX% declines quarter
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the remains for of quarter, hotels. the of many For our first source Leisure dominant business
destinations our resort continue Our over the outperform center to properties, on break. significantly particularly city and spring weekends
higher flat experienced first of Performance year. in particularly quarter and ramp last food and beverage rated strong rated spend West increased up, beverage nearly attractions food our The XX% hotels compared compared Key Oceans are utilize area closed, ADR the benefited room electing quarter rate property to and first guests from to As additional With demand is in a below XX% year, by to was last Wailea still airlift XX%. led more increase on this Beach higher rate which in quarter, outlets. in as saw premium the many the continue by during a to the in relax was segment. quarter Oceans levels. the the RevPAR increased drive transient occupancy to occupied but to despite XX% Similarly, year's Edge occupancies our Edge in and transient in fourth portfolio first increase quarter restrictions XXXX Resort able per pre-pandemic of compared levels.
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into books. occupancy excited high the We summer on the are going the with about potential months already resorts very
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and level previously quarter profitability expected. developing than rates quarter, earlier we property levels the we occupancy reach see second in we in to the the Given expect
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strengthen remain of have and we year. into have trends, and the improving should increased begun While which strong, continue we trends now the second half transient in just business this demand believe confidence group to
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and are seeing stretching out season. holiday through and earliest the Our destination the reservation summer the into resort with reservations even leisure hotels
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increases We long a in with stages investment portfolio resort the X% consistent and new to be to of XX%. property approximately our it LTRR to our operating after pipeline, cycle, stabilized With overall yield balance our a strong is Healdsburg to early acquisition to sheet acquisitions a leisure stated our growing of acquiring of quality deal be Healdsburg Montage LTRR the expect high the strategy exposure The and maintaining of ramps first expect in several on to Montage X% of generate up completed we strength. and sheet balance early this adding cycle. the the the
addition portfolio term, portfolio us in near recovery. things To now period is the trends worst asset seeing we our to and vast continue we available the of to deploying and the return the that sell sum give are majority are will of the are quarterly adds corporate LTRR Montage on increased in while the to portfolio, we second Healdsburg is look finance we we Non-LTRR to add operating finally, leisure future to believe a of of confidence oriented behind we acquisitions. profitability up, cash. half high remaining The to our to a As portion XXXX. to us optimism assets and quality in of a the path the that And
to portfolio. Hoffman service, address turn years I will for Before want been serve be please Officer, I of shareholders call short and to team, Boston I'll Chief plane taking at for am over to seen two Marc his to Bryan, at Chris shoes the behalf confident our exceptional Bryan, most is seen is for also our and thank into a can for he Plaza, role like throughout After ahead. the His the and XX turn Wailea Bidwell me the he company be has just been moment Park it the but company of successor. mundane can and Marc our pleasure identifying and his be Resort I over months work thank to the I'd his a Beach company. will the a the that Operating want the right Ostapovicz, I to choice contributions our Marc company. On foresight go the contributions the up With It [Ph] an Sunstone has Bryan. new job. vision well. to to in active transform retiring in fill, why to with proving Chief at that, is Chris Marc few Operating and Officer recently big to bittersweet has weeks. for to task already in Portland.
